Delta Reports $5.4 Billion In Losses As Coronavirus Continues To Devastate Airline Industry

Delta Reports $5.4 Billion In Losses As Coronavirus Continues To Devastate Airline Industry


Delta Airlines reported a net loss of $5.4 billion in the third quarter, bringing the airline’s total losses during the pandemic to $11 billion.

During the third quarter last year, Delta reported a profit of $1.5 billion, CNBC reported. Most recently, however, the third quarter brought major losses for the airline, which reported a 76% drop in revenue. Revenue dropped from $12.56 billion a year down to $3.06 billion during the third quarter. (RELATED: Airline Group Signs Letter Calling For Europe-US COVID Test-Sharing To Save Industry)

Delta’s daily cash burn has been dropping, going from about $43 million a day in the second quarter to an average of $24 million a day in the third quarter, CNBC reported. In September, the airline reported daily cash burns as low as $18 million a day. Delta Airlines CEO Edward Bastian said that during the fourth quarter, the company expects to get their daily cash burn down to between $10 million and $12 million a day, and could break even or make a profit starting in spring 2021.

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